An Oasis in the Desert
Cash Saver Celebrates The Grand Opening of Its New South Memphis Space, Filling Void in Food Desert
On August 15, 2018, Cash Saver hosted the grand opening celebration of its new South Memphis location in the former Kroger space, located at 1977 S. 3rd Street. The celebration featured a live remote with WRBO’s Christie Taylor. The store opened to the public on August 7, 2018.
Local grocer Rick James has been in Memphis for over 30 years, first with Malone & Hyde as a retail consultant, and then as president of the local Piggly Wiggly stores. In 2004, James and his wife Cathy purchased four Piggly Wiggly stores and began converting them in 2011 to Cash Saver, the first being the midtown location on Madison. The South Third store will be the fifth Cash Saver location in Memphis including the Midtown location, Whitehaven, Oakhaven and the East Memphis location (owned by Jeff Burkhead). Cash Saver has always incorporated giving and social responsibility into its business model, particularly as many of the stores are situated in mixed income or lower income neighborhoods. “Our approach is a combination of corporate and community, as evidenced in our cost plus 10% pricing strategy. This approach allows us to be good stewards of our business as well as good neighbors, providing affordable quality food options to shoppers,” says James, owner of Castle Retail Group, which is the holding company for the Cash Saver chain.
“The neighborhood was already in somewhat of a food desert before Kroger left, there is a pronounced lack of options. We are particularly excited about this opening as it provides us with an opportunity to expand our footprint in the city and bring more affordable options to Memphians. It also allows us to address a critical need in a community where food insecurity is an issue. The Cash Saver operates in the lane that is the intersection of cost-savings and quality. We meet customers where they are. Everyone deserves to have access to decent food.”
The grand opening festivities included a WKNO PBS kids “Ready to Learn” event sponsored by Cash Saver at Southgate Shopping Center. As part of its community outreach, Cash Saver also conducted food drives and health fairs.
Cash Saver utilizes a “source-to-shelf” pricing model that allows it to offer customers low prices on every item in the store. Not a limited-assortment store, Cash Saver carries a full line of national brands, store brands and many of the local brands Memphian love – Brim’s snacks, Rendezvous and Corky’s BBQ sauces, Makeda’s Cookies, Monogram Foods, and several others. In fact, they are one of Monogram Foods’ largest customers for King Cotton and Circle B products. The newest store will be similar to the midtown store which features Certified Angus Beef, Sanderson Farms 100% Natural Chicken, U.S. Number 1 produce and the much-beloved Rick’s 5-Star Fried Chicken in the deli.
The company supports the community on both a business-to-business level and at the grassroots level. In addition to carrying local products, they all post healthy recipes to the website, host health and wellness events and have a Wellness Corner on the site. Moreover, part of the Cash Saver promise is that customers will never have to sacrifice quality in order to save money, which applies to each of its stores. The 3rd Street store serves approximately 55,000 citizens and is the primary grocer within a 3-mile radius.
Third Street Grand Opening Celebration – August 15, 2018
3rd Street Memphis Grocery Store
1977 South Third St
Memphis TN, 38109
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